Bungie needs ideas and the community from what I've seen has lots of good ideas. I'll repost the best ones for their own forum. Post full details including description and upgrades.
Here's my own example:
Cloud of flies
Exotic rocket launcher
Arc damage
Bio: let the sickening drone drown their hopes - Sarc Mercer
T1: this weapon does arc damage
T2: aggressive launch / warhead verniers/ hard launch
T3: crowd control
T4: damage upgrade
T5: javelin / flared magwell / clown cartridge
T6: (exotic upgrade): rockets explode with green festering clouds of pestilence and swarming flies, dealing damage in a large vicinity to the initial explosion, leaves thorn effect on players who exit the cloud. Launcher grants +2 agility when equipped
T7: damage upgrade X3
Design: large wide construction and heavy wide muzzle. Encrusted with filth and twisted bones coil around the barrel. Several festering growths cling to the recesses. A green musk moves slowly from muzzle (like dragons breath) and a few flies can be seen circling the frame.
Stats:
Fire rate: very slow
Blast radius: maximum
Velocity: very slow
Reload speed: fast
Magazine size: 1
Grimoire:
There are some things best left alone - Toland the Shattered
The twisted frame of 'cloud of flies' screams with the echoes of countless plague victims, the husk seemingly as alive as its bearer. The exact origins of this festering horror are widely disputed among the vanguard, and it's possession is greatly discouraged by vanguard and guardian alike.
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There's already a Forum for this.